Global Blockchain Technology in Healthcare Market Executive Summary
Public, private, and other network kinds of blockchain technology are used in the healthcare industry. The primary cause of the public segment's large market share is the growing use of public networks for data management. Currently, one of the most widely used technologies in healthcare is Ethereum, a public network. The term "permission-less" blockchain system is another name for it. The main drivers of the expansion of these public networks are their low cost and the availability of a larger database.
The private category is anticipated to experience significant growth over the next few years. One implementation of the private network is Hyperledger Fabric from the Linux foundation. They provide great security, quick transactions, and privacy. They are therefore created and utilized for specific corporate requirements.
Market Size and Key Findings
The Global Blockchain Technology in Healthcare Market size is at around US $ xx Bn in 2021 and is projected to reach US $ xx Bn in 2030, exhibiting a CAGR of xx% during the forecast period.
Global Blockchain Technology in Healthcare Market Size (In USD Bn)
(2021-2030F)
Market Dynamics
Market Growth Drivers Analysis
It is anticipated that increasing disease prevalence would generate a vast amount of data, driving up demand for data management. Furthermore, applying blockchain technology to medical records will guarantee that the data is accurate and cannot be changed. The market is growing even more as a result of increased investment in this technology by key industry participants. For instance, IBM introduced a low-cost platform to create any blockchain applications in March 2018 that was designed specifically for startups. Such activities are likely to boost technological advancements and the adoption of new healthcare organisations, promoting market expansion
Leading healthcare organisations have teamed up to form the Synaptic Health Alliance, which is dedicated to increasing provider-to-provider data exchange. Established healthcare organisations like Humana, Quest Diagnostics, and Optum are part of the alliance. In several fields of healthcare, according to Synaptic, blockchain technology has the potential to improve efficiency and reduce costs
Competitive Landscape
Key Players
The prominent players operating in this market include IBM, PATIENTORY INC., Guardtime, iSolve, LLC, Solve.Care, Oracle, Change Healthcare, BurstIQ, Medicalchain SA, Blockpharma, etc.
TABLE OF CONTENT
1. Report Description of the Global Blockchain Technology in Healthcare Market
